Everyone knows that a fresh coat of paint or a kitchen and bathroom remodel will add value to just about any home, but there are some more unconventional renovations that could also increase the property’s value, some of which are easy and inexpensive enough to tackle over a free weekend.
WATCH : What to consider before renovating your home/ rental property.
“Whether the home renovations are for a homeowner’s own enjoyment or to improve the resale value of the home, it is always worth considering which improvements will add value to the home. This way, homeowners can ensure that whatever improvements are undertaken are most likely to generate a good return on investment when it comes time to sell the home,” suggests Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
He acknowledges that upgrading a kitchen or bathroom could add great value to your home, “however, it can easily become very expensive. Try to focus on small projects that will add more than it costs to install. For example, you could upgrade the cabinets by painting or staining them to give them a modern look. You could also upgrade the cabinet handles, light fixtures and faucets. As cliché as it is to say, it is truly amazing what a fresh coat of paint can do for your home. Just keep in mind that when selling a house, it would be better to keep the colours neutral to appeal to as many buyers as possible.”
But, apart from these tried-and-tested tricks, there are other ways to increase the resale value of a home. “For example, you would be surprised how simply installing a new outlet can declutter and modernise your home, especially if you install wall outlets equipped with built-in ports that are ready to plug your USB cables into,” says Goslett. Before installing these, Goslett warns homeowners to check that the electrical upgrade is supported by the outlet box.
“LED lighting can also have an impact on a home’s value because of its durability and low energy consumption – not to mention that it can be used as trendy décor to light up cabinets and recessed corners in the home,” he adds.
Apart from that, Goslett also suggests that homeowners should think about the heating and cooling solutions in their home. “Everyone knows that South African summers can be sweltering; but, installing air conditioning can be expensive. Those without the budget could add ceiling fans, which are an appealing addition to any home. Not only will they help keep a room cool, but they also add a nice decorative touch to the space which can make the home more appealing to future buyers. Similarly, installing a wood-burning stove or fireplace to warm the home in our icy winters can also increase the resale value of the home,” he notes.
Homeowners can also add insulation to the home. “Admittedly, this renovation won’t necessary add a ton of value onto the property; but, when insulation is done correctly, you can save massively on your energy bills, and you will have a cosy home in winter and a cool house in summer,” says Goslett.
“Those who are curious to know more about which renovations add more value are always able to discover this by speaking to a local agent. When they later decide to sell, our experienced agents will make sure any renovation efforts don’t go to waste by helping homeowners sell for full value,” Goslett concludes.
Writer : Kayla Ferguson
